House veiwing/buying in current times

onlyliveonce

Hi folks.
Here is the jist of our circumstances.

Around a month ago i posted on here for some advice on getting a mortgage and i was recommended i get in contact with a broker.
So we did and got some positive news that things were do-able.

Now we had our eye on a house but an offer was accepted while we were nearing the end of sprucing our house up to be valued and hopefuly put on the market. It is a freind of my wifes parents thats selling the house.

We decided to proceed with moving up the housing ladder.
We had 3 estate agents planned  to come and value out house and give advice to us. But lockdown put the brakes on that.

Now my wifes parents have called her to let us know the house where the offer was accepted has fallen through as the buyers couldnt secure a mortgage dont know the reasons for this.

My wife is now on about how this is our chance to make an offer. But i dont think we are in any position, due to our house not even been valued let alone up for sale. Also there is every chance the house we are looking at isnt worth its price anymore, mortgage lenders are lowering there LTV %. To many ifs, buts and whats. Another thing is my work have furloughed me because iam on the vulnarable catagory and only on 80% of my wage.

To add the vendors are wanting sold as they are moving to spain but they cant be in any hurry as spain is on lockdown aswel as limited/no flights to spain.

Basicly can anyone give advice on anything i could do incase there is and we could lose our 2nd chance.

Thanks for any advice.

hazyjo

Sit tight. Nobody else will be buying it.

Or do what I did a few years ago when the house I'm in now was taken off the market. Send a letter saying you would be very interested in the house and if they're thinking of selling again in the future, please would they contact you.

Have you even actually viewed it? If not, I would just keep a close eye on the market and not send the letter. Houses are always very different 'in the flesh'. I've nearly considered offering without viewing when was looking in around a dozen streets only and all houses were similar. But sometimes they just feel wrong and you can't even explain why. I would not be wasting their time in your shoes if I'd not viewed. Pointless.

Crashy_Time

You are not in a position to make an offer, and unlikely the sellers will have anybody else lined up to buy. Sit tight and review your offer when the dust settles.

onlyliveonce

Hi.
Yes we had a veiwing.
Never made any offer at the time as we were doing things to our house painting, declutering fixing bits and bobs.
Our house still isnt on the market so still feel uncomfertable about making any offer.

Just feel really peed off as wife is under the impression house selling/buying is an easy thing. And now iam thinking there could be somthing i could do in regarda to offering.

Inlaws are texting me telling me to call the vendor they will understand and "may" be willing to hold off on any other offers for us.

Thanks folks.